Wayne L. Biggs Jr., chief executive officer of the Virgin Islands Economic Development Authority (VIEDA), has announced that a Public Hearing is scheduled for the Virgin Islands Economic Development Commission (VIEDC), a subsidiary of the VIEDA, at 9 a.m. on Thursday, Dec. 14.
During the public hearing, the board of directors will hear testimony from four companies newly seeking VIEDC tax incentives.
These new applications were submitted by:
- PL Partners LLP, a family office that applied as a Category IV Designated Services Business to provide management and consulting services on St. Thomas;
- Sail Rock Investment LLC, a family office that applied as a Category IV Designated Services Business to provide private equity investment on St. Thomas;
- United Investors LLC d/b/a Concrete Masters that applied as Category II Manufacturing concrete plant on St. Croix; and
- VI Electron LLC applied as both a Category III Utility (alternative energy power generation) company and a Category IV Designated Services Business that will provide investment consulting and management services on St. Thomas, St. John and St. Croix.
Representatives from one current VIEDC beneficiary, DIAM Management Inc., which is a Category IV Designated Services Business providing financial and management consulting and advisory services on St. Croix, will also testify on its application for a modification of benefits.
Following the Public Hearing, Decision Meetings will be held for the Enterprise Zone Commission (EZC) and the Economic Development Park Corporation, as well as for V.I. Economic Development Commission application and compliance matters.
The board of directors may go into executive session concerning any decision at any time during the meetings as provided by law.
This meeting will be conducted via Zoom, a software-based platform for video and audio communications.
Registration is required to participate in the board meeting. Interested individuals are invited to register in advance and join the meeting through the following Zoom link: https://us02web.zoom.us/meeting/register/tZAsduurrjssGNbTxJnNTxAmQj94Au1U9DmF
After registering, individuals will receive a confirmation email containing information about joining the meeting. Meeting registrants are reminded that the link they receive after registration should not be shared with anyone as all persons are required to register on their own behalf.
As board meeting agendas become available, they can be found on the VIEDA website at www.usvieda.org/about-usvieda/board-directors/board-meeting-agenda.
Following the meeting, summaries of the board’s decision(s) will also be available to the public on the VIEDA website at https://usvieda.org/about-usvieda/board-directors/board-meeting-summaries.
